Morgan Stanley lowered its price target on EQT Corporation to $68 from $74 while retaining an Overweight rating. The firm cited refreshed estimates to reflect lower energy prices after oil retreated following the June 14 US-Iran memorandum of understanding. Separately, EQT's second-quarter 2026 outlook expects total sales volume of 570-620 Bcfe, including 10-15 Bcfe of strategic curtailments, with maintenance capital expenditures of $525 million to $595 million and growth capital spending of $210 million to $235 million. The company expects second-quarter capital expenditures to mark the year's peak as growth-project spending moderates in the second half, and plans to turn in 30-45 net wells during the quarter.
EQT CorporationMorgan Stanley lowered price target from $74 to $68 due to lower energy prices.